By present $12 billion has been invested into implementation of the Shah Deniz Phase 2 field, including construction of the pipeline infrastructure in Azerbaijan and Georgia, and 30% of works have been completed, Vitalii Beglyarbekov, SOCAR Deputy Vice President, said in his interview to EurActiv.
“This shows that implementation of the Southern Gas Corridor (SGC) project cannot be stopped. SGC is not only a set of the signed agreements, we speak about billions of dollars of investments,” he added.
Beglyarbekov said that the deadline of commencement of gas extraction from the Shah Deniz Phase 2 is 2018.
“In 2018 gas will be delivered to Eskishekher, Turkey. Our buyers in Greece, Bulgaria and Italy will start receiving gas from the Shah Deniz field in early 2021,” he added.
The SGC project envisages creation of the pipeline infrastructure for transportation of Azerbaijani gas extracted from the Shah Deniz Phase 2 field to Europe via Turkey (cost of the project is $28 billion).
Cost of the project is estimated at $45 billion. The main components of the projects are Shah Deniz Phase 2, expansion of the South Caucasian pipeline Baku-Georgia-Turkish border, construction of the trans-Anadolu gas pipeline (TANAP) from the eastern to the western border of Turkey and the trans –Adriatic gas pipeline (TAP) connecting Greece, Albania and Adriatic Sea with the south of Italy.
It is expected to deliver 10 billion cub.m. of Azerbaijani gas to Europe. 6 billion cub.m. of Azerbaijani gas will be delivered to the western regions of Turkey.—0-
Economics
-
According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
-
The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
-
Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
-
Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
Leave a review